In a production possibilities frontier model, a point ________ the frontier is productively inefficient
A) outside B) at either intercept of
C) inside D) along
C
Economics
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Whenever average cost exceeds marginal cost,
a. average cost is rising. b. average cost is falling. c. marginal cost is rising. d. marginal cost is falling.
Economics
Refer to Table 4.1. Mike's preferences are consistent with the Ranking Principle because:
A. the two goods are perfect complements.
B. there are no empty cells.
C. in each column, the choices at the top are ranked lower than the choices at the bottom.
D. in each column, the choices at the top are ranked higher than the choices at the bottom.
Economics